Thoughts on the Crypto market on 02.06.2022
Bitcoin, after yesterday's decline during the American session, did not stay above 30K, reaching a low around $29,350. Total Crypto market capitalization of $1.234 Trillion, BTC and ETH dominance index of 46.11, 17.8%, fear index 13.
US indices were down yesterday, Nasdaq lost 0.72%, Dow Jones lost 0.54%, S&P 500 lost 0.75% to close at 4101. The dollar index continues the bounce back reaching 102.618
Bullard from the Fed said that it would be ideal to reach the peak rate as early as this year, not to raise it above 3.5%, and to start cutting the rate at the end of 2023. This is but a verbal intervention of intention. We shall see real moves this month. We talked about the options yesterday. The price of oil fell by 2%. Reasons - investors figured out that the embargo on Russian oil is somewhat decorative and the real reduction in supply will occur in 6-8 months. There will be an OPEC meeting today, and data on oil reserves in the US, so strong price movements are possible. Secondly, there is a threat of falling demand for oil due to the expected recession in the US.
There was news that part of the US administration is against the confiscation of blocked Russian assets. In particular, Treasury Secretary Yelen fears that this could undermine the US reputation as a "safe haven for investment."
The priority option for today is Bitcoin in the range with the lower border of $28,300-$28,000 and the upper one at $30,300- $30500. Alternative - fixing above $30,500. In the case of Bitcoin moving towards 28K, an increase in the dominance index is possible, since altcoins will fall much more strongly. ETH dominance is notably falling. The growth of the dollar index will lead to a fall in the exchange rates of national currencies and strong inflation.
Lastly, a former OpenSea CEO Nate Chastain was arrested and charged in New York. U.S. prosecutors in Manhattan on Wednesday charged a former product manager at OpenSea, the largest online marketplace for non-fungible tokens, with insider trading, the first such case involving digital assets.
There is a negative about STEPN - allegedly one of the founders was arrested in London and the equipment was confiscated, no confirmation yet on this news, maybe just FUD. It has seen a -12.4% draw down in price already. SOL prices too have taken a massive hit, tanking almost 14% over the past 12 hours or so in a fall below $40, according to CoinGecko. The network’s native token has now slumped 85% from its November 2021 all-time high of $260. It suffered its fifth outage of 2022, and the year is only five months old. A bug-related consensus failure was the culprit this time.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin, after yesterday's decline during the American session, did not stay above 30K, reaching a low around $29,350. Total Crypto market capitalization of $1.234 Trillion, BTC and ETH dominance index of 46.11, 17.8%, fear index 13.
US indices were down yesterday, Nasdaq lost 0.72%, Dow Jones lost 0.54%, S&P 500 lost 0.75% to close at 4101. The dollar index continues the bounce back reaching 102.618
Bullard from the Fed said that it would be ideal to reach the peak rate as early as this year, not to raise it above 3.5%, and to start cutting the rate at the end of 2023. This is but a verbal intervention of intention. We shall see real moves this month. We talked about the options yesterday. The price of oil fell by 2%. Reasons - investors figured out that the embargo on Russian oil is somewhat decorative and the real reduction in supply will occur in 6-8 months. There will be an OPEC meeting today, and data on oil reserves in the US, so strong price movements are possible. Secondly, there is a threat of falling demand for oil due to the expected recession in the US.
There was news that part of the US administration is against the confiscation of blocked Russian assets. In particular, Treasury Secretary Yelen fears that this could undermine the US reputation as a "safe haven for investment."
The priority option for today is Bitcoin in the range with the lower border of $28,300-$28,000 and the upper one at $30,300- $30500. Alternative - fixing above $30,500. In the case of Bitcoin moving towards 28K, an increase in the dominance index is possible, since altcoins will fall much more strongly. ETH dominance is notably falling. The growth of the dollar index will lead to a fall in the exchange rates of national currencies and strong inflation.
Lastly, a former OpenSea CEO Nate Chastain was arrested and charged in New York. U.S. prosecutors in Manhattan on Wednesday charged a former product manager at OpenSea, the largest online marketplace for non-fungible tokens, with insider trading, the first such case involving digital assets.
There is a negative about STEPN - allegedly one of the founders was arrested in London and the equipment was confiscated, no confirmation yet on this news, maybe just FUD. It has seen a -12.4% draw down in price already. SOL prices too have taken a massive hit, tanking almost 14% over the past 12 hours or so in a fall below $40, according to CoinGecko. The network’s native token has now slumped 85% from its November 2021 all-time high of $260. It suffered its fifth outage of 2022, and the year is only five months old. A bug-related consensus failure was the culprit this time.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market as of 03.06.2022
Bitcoin maintains the $29,600- $30,700 and at the time of this writing its trading for $29,530. Total crypto market capitalization of $1.262 Trillion, BTC and ETH dominance index of 46.3% and 17.5% fear index 10.
American indices grew yesterday. The Nasdaq rose 2.69%, the Dow Jones rose 1.33% and the S&P 500 gained 1.84% to close at 4176 where it currently is. The dollar index is falling and is now at 101.77 The Fed's Mester said that inflation has not peaked yet, and the rate needs to be raised quickly to 2.5% and possibly more. She sees a need for Aggressive rate hikes at next two meetings
It is difficult to call it positive, but the market liked the sentiments, the S&P 500 returned to the levels of early May, and the fall of the volatility index to a monthly low indicates a decrease in fear among market participants, but let's not get comfortable. JPMorgan Chase & Co.CEO Jamie Dimon is less optimistic. He talks about a hurricane that will soon cover the American economy, and the Fed may not be able to cope with the situation. He promises oil at 175, and sees the quantitative tightening of unprecedented proportions as the main risk.
Quantitative tightening is carried out for the second time in history. What happened for the first time you may be wondering. Will share it on our telegram channel later tonight.
Bitcoin worked out yesterday’s priority review, with a correction below $29,800. Bitcoin has since held above 30K for over 12 hours and it just lost that support as of this writing.
If fixing above $30,500 is not possible, Bitcoin will return to the previous trading range (lower limit at $28,300- $28,000 and upper limit at $30,300- $30,500).
Some news, - The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the Gemini exchange. The reason is that CFTC employees were allegedly misled back in 2017 when the Gemini exchange product was used to determine the price of Chicago Board Options Exchange (CBOE) Bitcoin settlement futures. Why the topic has become relevant now, after 5 years, is not clear, but Gemini clearly has problems, they are reducing their staff. So I won't be surprised if there is some FUD around this exchange.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin maintains the $29,600- $30,700 and at the time of this writing its trading for $29,530. Total crypto market capitalization of $1.262 Trillion, BTC and ETH dominance index of 46.3% and 17.5% fear index 10.
American indices grew yesterday. The Nasdaq rose 2.69%, the Dow Jones rose 1.33% and the S&P 500 gained 1.84% to close at 4176 where it currently is. The dollar index is falling and is now at 101.77 The Fed's Mester said that inflation has not peaked yet, and the rate needs to be raised quickly to 2.5% and possibly more. She sees a need for Aggressive rate hikes at next two meetings
It is difficult to call it positive, but the market liked the sentiments, the S&P 500 returned to the levels of early May, and the fall of the volatility index to a monthly low indicates a decrease in fear among market participants, but let's not get comfortable. JPMorgan Chase & Co.CEO Jamie Dimon is less optimistic. He talks about a hurricane that will soon cover the American economy, and the Fed may not be able to cope with the situation. He promises oil at 175, and sees the quantitative tightening of unprecedented proportions as the main risk.
Quantitative tightening is carried out for the second time in history. What happened for the first time you may be wondering. Will share it on our telegram channel later tonight.
Bitcoin worked out yesterday’s priority review, with a correction below $29,800. Bitcoin has since held above 30K for over 12 hours and it just lost that support as of this writing.
If fixing above $30,500 is not possible, Bitcoin will return to the previous trading range (lower limit at $28,300- $28,000 and upper limit at $30,300- $30,500).
Some news, - The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the Gemini exchange. The reason is that CFTC employees were allegedly misled back in 2017 when the Gemini exchange product was used to determine the price of Chicago Board Options Exchange (CBOE) Bitcoin settlement futures. Why the topic has become relevant now, after 5 years, is not clear, but Gemini clearly has problems, they are reducing their staff. So I won't be surprised if there is some FUD around this exchange.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market as of 04.06.2022
Bitcoin yesterday was in the range of $30,700- $29,300 and at the time of writing the review it is trading for $29,654. Total crypto market capitalization of $1.214 Trillion, BTC and ETH dominance index 46.4% and 17.5%, fear index 14.
American indices fell yesterday, the Nasdaq shed 2.47%, the Dow Jones lost 1.05% and the S&P 500 fell 1.63% to close at 4108. The dollar index returned above 102 to close at 102.185. TESLA shares fell 9.22% and Apple shares, which have a significant weight in the indices, fell by 3.86%. Elon Musk prospects for the twitter deal are still not clear, since Musk either wants to buy Twitter much cheaper than agreed, or after the audit, this idea has ceased to seem attractive to him at all. Remember too the recent bad GDP data coming out and the markets going up? They grew not because the worse things are in the economy, but more likely it's that the Fed will not get involved in tightening monetary policy.
The situation was reversed yesterday- good data on the US labor market came out. This means that there are more chances that the Fed will raise rates and reduce the balance sheet in the near future. This is negative for the markets. In the past, markets grew on good statistics: the better things are in the economy, the more profitable the activities of companies will be, the more their shares and the market as a whole will grow. Rational and logical.
On the contrary the markets are rising on bad data - the worse things are in the economy, the sooner the Fed will start pouring money into it. Markets fall on good data, because in this case the Fed will start fighting inflation and withdraw money from the economy.
This irrationality appeared after the crisis of 2008-2009.
Bitcoin failed to gain a foothold above $30,500 and remains in the same trading range. Inside the large range of 28K-32K, which has been for almost a month, an intermediate support has formed at $29,300-$29,500. If it holds in the thin weekend market, it will be a good base for another test of the upper end of the range, ie. areas of $31,800-$32,200.
The Bitcoin Dominance Index continues to rise while altcoins fall. There is growing fear and uncertainty in the market, which will peak if Bitcoin moves to $28K. If the support at $29,300- $29,500 is stable and Bitcoin goes above $30K, altcoins will show growth, but I think that Bitcoin dominance will not fall significantly yet, as it is clearly preparing for strong movements in the wait.
Yesterday I talked about the past Fed's balance sheet cut, this is the second time in history. The first time was at the end of 2017-2018. Then the S&P 500 fell 16%. Many believe that the markets are now waiting for an equally sad outcome which is rational.
There may not be a strong drop from current levels, the main reason being that there is too much money in the market, which, in conditions of record inflation, simply has nowhere to go.
As Ray Dalio (billionaire and founder of a fund with assets of $160 billion) said, cash is trash.
He only said this when inflation is 4 times less than now. This statement is now 4 times more true.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Great weekend ahead.
Bitcoin yesterday was in the range of $30,700- $29,300 and at the time of writing the review it is trading for $29,654. Total crypto market capitalization of $1.214 Trillion, BTC and ETH dominance index 46.4% and 17.5%, fear index 14.
American indices fell yesterday, the Nasdaq shed 2.47%, the Dow Jones lost 1.05% and the S&P 500 fell 1.63% to close at 4108. The dollar index returned above 102 to close at 102.185. TESLA shares fell 9.22% and Apple shares, which have a significant weight in the indices, fell by 3.86%. Elon Musk prospects for the twitter deal are still not clear, since Musk either wants to buy Twitter much cheaper than agreed, or after the audit, this idea has ceased to seem attractive to him at all. Remember too the recent bad GDP data coming out and the markets going up? They grew not because the worse things are in the economy, but more likely it's that the Fed will not get involved in tightening monetary policy.
The situation was reversed yesterday- good data on the US labor market came out. This means that there are more chances that the Fed will raise rates and reduce the balance sheet in the near future. This is negative for the markets. In the past, markets grew on good statistics: the better things are in the economy, the more profitable the activities of companies will be, the more their shares and the market as a whole will grow. Rational and logical.
On the contrary the markets are rising on bad data - the worse things are in the economy, the sooner the Fed will start pouring money into it. Markets fall on good data, because in this case the Fed will start fighting inflation and withdraw money from the economy.
This irrationality appeared after the crisis of 2008-2009.
Bitcoin failed to gain a foothold above $30,500 and remains in the same trading range. Inside the large range of 28K-32K, which has been for almost a month, an intermediate support has formed at $29,300-$29,500. If it holds in the thin weekend market, it will be a good base for another test of the upper end of the range, ie. areas of $31,800-$32,200.
The Bitcoin Dominance Index continues to rise while altcoins fall. There is growing fear and uncertainty in the market, which will peak if Bitcoin moves to $28K. If the support at $29,300- $29,500 is stable and Bitcoin goes above $30K, altcoins will show growth, but I think that Bitcoin dominance will not fall significantly yet, as it is clearly preparing for strong movements in the wait.
Yesterday I talked about the past Fed's balance sheet cut, this is the second time in history. The first time was at the end of 2017-2018. Then the S&P 500 fell 16%. Many believe that the markets are now waiting for an equally sad outcome which is rational.
There may not be a strong drop from current levels, the main reason being that there is too much money in the market, which, in conditions of record inflation, simply has nowhere to go.
As Ray Dalio (billionaire and founder of a fund with assets of $160 billion) said, cash is trash.
He only said this when inflation is 4 times less than now. This statement is now 4 times more true.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Great weekend ahead.
Thoughts on the Crypto market as of 06.06.2022.
The weekend registered a period of minimal volatility, which saw bitcoin move up to highs above $31K, at the time of writing the review, it was trading for $30,956.
Total Crypto Market capitalization of $1.269 Trillion, BTC and ETH dominance index of 46.4% and 17.8% , fear index 13.
Stock markets opened positive. Futures on the S&P 500 show a slight increase, the dollar index is slightly above 102, oil is above 120.
The Fed's balance sheet cuts began last week. As long as the markets bear it normal, there was not even a decline to the May lows. The principle of “the worse, the better” is visible, and vice versa. A negative forecast for GDP causes growth, while strong data on the labor market causes a fall. Data about the weakening economy increases the likelihood that the Fed will begin to rescue it in the usual way, with a strong economy, the likelihood of further tightening of monetary policy to combat inflation increases.
I think there will be a similar story this week. Data on the US trade balance and labor market will be released, the main event for the market will be the release of inflation data for May on Friday. Biden has already stated that it is impossible to lower the prices of gasoline and groceries. If he shifts the blame and states this fact is on Putin, then the Democrats have no chance at the November elections. Especially if the stock market also collapses due to the actions of the Fed. On the other hand if the Fed does not put much pressure on gas with a tightening of the monetary policy, stock indices will grow by 10-15%, and some benefits will begin to be distributed to combat rising prices, this will be a chance to avoid defeat in the upcoming elections in November.
Bitcoin spent the weekend with minimal volatility. The intermediate support at $29,300- $29,500 that we talked about on Saturday held and ended up with an upward momentum. At the moment, Bitcoin is already above 31K. It seems that the next test of the upper limit of the trading range, in which Bitcoin has been for almost a month, will take place today. For further growth, it is necessary to gain a foothold above the resistance area at $31,800- $32,200. This is the priority for the week. Let's see if it happens in the next few days.
The priority option for today is the growth of Bitcoin to the area of $31,800- $32,200, further depending on the reaction to this level. An alternative option is movement in the range with the upper border $31,500- $31,800 and the lower one at $29,500- $29,300.
To some news, - The head of the Central Bank of India said that CBDC (Central Bank Digital Currencies) will kill private cryptocurrencies. Strange statement. CBDC’s is a completely different asset class that does not have any of the inherent advantages of cryptocurrencies. A digital dollar, euro to rupee clearly does not pose a threat to Bitcoin or Ethereum.
- From June 9 to 12, an event that has been held 2015. It has been recognized as the most important and influential for the crypto market. The Consensus Festival by (https://www.coindesk.com/consensus2022/) CoinDesk will take place in Austin, Texas. There will be many well-known people, significant statements for the market are possible.
- Microstrategy CEO Mike Saylor, spoke about Bitcoin noting the following:.
;most do not understand what BTC is
;short-term volatility in BTC is irrelevant
;Microstrategy is not going to sell BTC
I couldn't agree more with that. Many people really do not understand the essence of this asset, otherwise they would not expect Bitcoin at 8K in the current geopolitical situation. Bitcoin at $28K is no different from Bitcoin at $50K or 7K. Therefore, it doesn’t matter how much Bitcoin costs, it matters how much you have. Microstrategy's plans not to sell are a consequence of Sailor getting it all right.
The weekend registered a period of minimal volatility, which saw bitcoin move up to highs above $31K, at the time of writing the review, it was trading for $30,956.
Total Crypto Market capitalization of $1.269 Trillion, BTC and ETH dominance index of 46.4% and 17.8% , fear index 13.
Stock markets opened positive. Futures on the S&P 500 show a slight increase, the dollar index is slightly above 102, oil is above 120.
The Fed's balance sheet cuts began last week. As long as the markets bear it normal, there was not even a decline to the May lows. The principle of “the worse, the better” is visible, and vice versa. A negative forecast for GDP causes growth, while strong data on the labor market causes a fall. Data about the weakening economy increases the likelihood that the Fed will begin to rescue it in the usual way, with a strong economy, the likelihood of further tightening of monetary policy to combat inflation increases.
I think there will be a similar story this week. Data on the US trade balance and labor market will be released, the main event for the market will be the release of inflation data for May on Friday. Biden has already stated that it is impossible to lower the prices of gasoline and groceries. If he shifts the blame and states this fact is on Putin, then the Democrats have no chance at the November elections. Especially if the stock market also collapses due to the actions of the Fed. On the other hand if the Fed does not put much pressure on gas with a tightening of the monetary policy, stock indices will grow by 10-15%, and some benefits will begin to be distributed to combat rising prices, this will be a chance to avoid defeat in the upcoming elections in November.
Bitcoin spent the weekend with minimal volatility. The intermediate support at $29,300- $29,500 that we talked about on Saturday held and ended up with an upward momentum. At the moment, Bitcoin is already above 31K. It seems that the next test of the upper limit of the trading range, in which Bitcoin has been for almost a month, will take place today. For further growth, it is necessary to gain a foothold above the resistance area at $31,800- $32,200. This is the priority for the week. Let's see if it happens in the next few days.
The priority option for today is the growth of Bitcoin to the area of $31,800- $32,200, further depending on the reaction to this level. An alternative option is movement in the range with the upper border $31,500- $31,800 and the lower one at $29,500- $29,300.
To some news, - The head of the Central Bank of India said that CBDC (Central Bank Digital Currencies) will kill private cryptocurrencies. Strange statement. CBDC’s is a completely different asset class that does not have any of the inherent advantages of cryptocurrencies. A digital dollar, euro to rupee clearly does not pose a threat to Bitcoin or Ethereum.
- From June 9 to 12, an event that has been held 2015. It has been recognized as the most important and influential for the crypto market. The Consensus Festival by (https://www.coindesk.com/consensus2022/) CoinDesk will take place in Austin, Texas. There will be many well-known people, significant statements for the market are possible.
- Microstrategy CEO Mike Saylor, spoke about Bitcoin noting the following:.
;most do not understand what BTC is
;short-term volatility in BTC is irrelevant
;Microstrategy is not going to sell BTC
I couldn't agree more with that. Many people really do not understand the essence of this asset, otherwise they would not expect Bitcoin at 8K in the current geopolitical situation. Bitcoin at $28K is no different from Bitcoin at $50K or 7K. Therefore, it doesn’t matter how much Bitcoin costs, it matters how much you have. Microstrategy's plans not to sell are a consequence of Sailor getting it all right.
Thoughts on the Crypto Market 07.06.2022.
A few hours ago, Bitcoin fell sharply to $29,350- $29,400. At the time of writing the review, it's trading for $29,372 with a total crypto market capitalization of $1.207 Trillion, BTC and ETH dominance index of 46.3% and 17.5%, fear index 15.
American indices showed significant growth at the beginning of the session, which soon gave way to a decline. The Nasdaq gained 0.41%, the Dow Jones added 0.05% and the S&P 500 rose 0.31% to close at 4121. Dollar index is growing and is already above 102.6
For the markets, the Fed's rhetoric remains the main factor. Growth at the beginning of the session on the positive from China was leveled by the statements of the Fed representatives about the need to raise the rate above 2.5%. Although this is of no practical importance - for a real impact on inflation, the rate must be raised above 8%, but this is impossible due to the heavy debt burden. There is fear and uncertainty in the market amid talk of an impending hurricane (as Dimon, Elon Musk and many others have been talking about lately). Markets are waiting for the US inflation data, which is to be released on Friday, and could have a strong impact on the markets. Next week too a meeting of the Fed, that's where the indices with the direction will be finally determined. By the way, the topic of monkeypox is gradually developing - there has been information that the United States is again buying vaccines for it, WHO declares an increase in the number of cases.
Bitcoin after the test of $31,800 rolled back $29,300- $29,400.
What was it all about?
There is nothing unusual in the situation. Bitcoin failed to pass the resistance area at 31800-32200, after which it returned to the old, well-known range. This happened quickly and abruptly against the background of FUD around Binance, which is clearly being deliberately dispersed. First, there was an article from Reuters about money laundering. Then Korean hackers who hacked into the Slovak exchange and withdrew money through Binance, sending them to finance the nuclear program - this in itself is strong. There was also Hydra A certain “Alexandra from Moscow '' tells how easily and quickly she brought meth through Binance, and then switched to cannabis. All “An Inconvenient Truth” read the blog shared yesterday.
Almost simultaneously, news came out that the SEC was investigating the BNB token. The subject of the investigation is whether this token was a security when it was sold in 2017? This is already news from Bloomberg. Obviously, we are talking about a targeted attack on the largest crypto exchange. The likely goal is to persuade people to take certain actions. It is clear that there is nothing good in this, regulation in crypto is evil, but, unfortunately, evil is inevitable.
With Bitcoin returning to the middle of the 28K-32K range, in which it has been for almost a month, if it stays above $29,500, it will again tag the upper border. A fixation below $29,300 will lead to a test of the lower boundary of the range and an exit to $25,600.
In summary, major key dates to watch, 7th June(today), 10th, 14th and 21st June. Major Support levels $28K, a good trading area if price holds. Below $28K on a weekly time frame, will see $22/$19K as the next support. Our personal opinion and a biased view, is bearish as long as price did not reclaim $45/47K weekly. There are levels below $20K, but perhaps the herd is not ready to adjust to that, we shall update when that time comes.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
A few hours ago, Bitcoin fell sharply to $29,350- $29,400. At the time of writing the review, it's trading for $29,372 with a total crypto market capitalization of $1.207 Trillion, BTC and ETH dominance index of 46.3% and 17.5%, fear index 15.
American indices showed significant growth at the beginning of the session, which soon gave way to a decline. The Nasdaq gained 0.41%, the Dow Jones added 0.05% and the S&P 500 rose 0.31% to close at 4121. Dollar index is growing and is already above 102.6
For the markets, the Fed's rhetoric remains the main factor. Growth at the beginning of the session on the positive from China was leveled by the statements of the Fed representatives about the need to raise the rate above 2.5%. Although this is of no practical importance - for a real impact on inflation, the rate must be raised above 8%, but this is impossible due to the heavy debt burden. There is fear and uncertainty in the market amid talk of an impending hurricane (as Dimon, Elon Musk and many others have been talking about lately). Markets are waiting for the US inflation data, which is to be released on Friday, and could have a strong impact on the markets. Next week too a meeting of the Fed, that's where the indices with the direction will be finally determined. By the way, the topic of monkeypox is gradually developing - there has been information that the United States is again buying vaccines for it, WHO declares an increase in the number of cases.
Bitcoin after the test of $31,800 rolled back $29,300- $29,400.
What was it all about?
There is nothing unusual in the situation. Bitcoin failed to pass the resistance area at 31800-32200, after which it returned to the old, well-known range. This happened quickly and abruptly against the background of FUD around Binance, which is clearly being deliberately dispersed. First, there was an article from Reuters about money laundering. Then Korean hackers who hacked into the Slovak exchange and withdrew money through Binance, sending them to finance the nuclear program - this in itself is strong. There was also Hydra A certain “Alexandra from Moscow '' tells how easily and quickly she brought meth through Binance, and then switched to cannabis. All “An Inconvenient Truth” read the blog shared yesterday.
Almost simultaneously, news came out that the SEC was investigating the BNB token. The subject of the investigation is whether this token was a security when it was sold in 2017? This is already news from Bloomberg. Obviously, we are talking about a targeted attack on the largest crypto exchange. The likely goal is to persuade people to take certain actions. It is clear that there is nothing good in this, regulation in crypto is evil, but, unfortunately, evil is inevitable.
With Bitcoin returning to the middle of the 28K-32K range, in which it has been for almost a month, if it stays above $29,500, it will again tag the upper border. A fixation below $29,300 will lead to a test of the lower boundary of the range and an exit to $25,600.
In summary, major key dates to watch, 7th June(today), 10th, 14th and 21st June. Major Support levels $28K, a good trading area if price holds. Below $28K on a weekly time frame, will see $22/$19K as the next support. Our personal opinion and a biased view, is bearish as long as price did not reclaim $45/47K weekly. There are levels below $20K, but perhaps the herd is not ready to adjust to that, we shall update when that time comes.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market as of 08.06.2022
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of 46.6% and 17.5%, fear index 17.
US markets were up yesterday, Nasdaq added 0.94% , Dow Jones rose 0.8% , S&P 500 rose 0.95% to close at 4150. Oil remains above 120, dollar index 102.55. US Treasury Secretary Helen said yesterday that inflation in the US is unacceptable, but it must be fought in a way that does not weaken the economy. This is good rhetoric. The volatility index fell to a monthly low, which indicates a decrease in the level of fear in the stock market.
Elon Musk seems to have stopped looking for money to buy Twitter due to the fact that he did not receive evidence of the real number of fake accounts on the network. Either he lowers the price, or he delays the purchase.
Bitcoin clearly worked out the priority option of yesterday's review. It held above $29,500, after which it turned to growth, reaching above $31,580. After that, a drain to $30,300. It has seen a second return above $31K and a decline over the past few hours. The FUD around Binance continues. Cointelegraph escalates the situation by promising a drop in BNB in a publishing titled: “BNB price risks 40% drop as SEC launches probe against Binance” it further states that: Downside risks for BNB also come from a recent Reuter exposé that claims Binance laundered "at least $2.35 billion in illicit funds."
But in fact, both BNB and the market as a whole are resistant to such a significant FUD. Binance feels confident - Binance US, despite the investigation, is launching staking, intending to give rates higher than American exchanges. You have a trading opportunity back to $325
The priority option for today is Bitcoin in a range with a lower border at $29,300- $29,500 and an upper border at $31,500- $31,800. An alternative option is fixing below $29,300. The Bitcoin Dominance Index continues to rise.
Interesting: PayPal made it possible to transfer purchased crypto assets to external wallets. The feature is available for select US users in the first instance. Back in October 2020 we had concerns as to why they would not allow users to do so. (https://t.me/decryptedge/35) seems it's being fixed.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of 46.6% and 17.5%, fear index 17.
US markets were up yesterday, Nasdaq added 0.94% , Dow Jones rose 0.8% , S&P 500 rose 0.95% to close at 4150. Oil remains above 120, dollar index 102.55. US Treasury Secretary Helen said yesterday that inflation in the US is unacceptable, but it must be fought in a way that does not weaken the economy. This is good rhetoric. The volatility index fell to a monthly low, which indicates a decrease in the level of fear in the stock market.
Elon Musk seems to have stopped looking for money to buy Twitter due to the fact that he did not receive evidence of the real number of fake accounts on the network. Either he lowers the price, or he delays the purchase.
Bitcoin clearly worked out the priority option of yesterday's review. It held above $29,500, after which it turned to growth, reaching above $31,580. After that, a drain to $30,300. It has seen a second return above $31K and a decline over the past few hours. The FUD around Binance continues. Cointelegraph escalates the situation by promising a drop in BNB in a publishing titled: “BNB price risks 40% drop as SEC launches probe against Binance” it further states that: Downside risks for BNB also come from a recent Reuter exposé that claims Binance laundered "at least $2.35 billion in illicit funds."
But in fact, both BNB and the market as a whole are resistant to such a significant FUD. Binance feels confident - Binance US, despite the investigation, is launching staking, intending to give rates higher than American exchanges. You have a trading opportunity back to $325
The priority option for today is Bitcoin in a range with a lower border at $29,300- $29,500 and an upper border at $31,500- $31,800. An alternative option is fixing below $29,300. The Bitcoin Dominance Index continues to rise.
Interesting: PayPal made it possible to transfer purchased crypto assets to external wallets. The feature is available for select US users in the first instance. Back in October 2020 we had concerns as to why they would not allow users to do so. (https://t.me/decryptedge/35) seems it's being fixed.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Telegram
KryptoEdge
#decryptedge Thoughts on the market on 22.10.2020: #PayPal Embraces #Crypto, Igniting Market as Mainstream Adoption Inches Closer. ⚠️
#Bitcoin exceeded expectations from yesterday's review, not only consolidated above 12K, but also updated annual highs above…
#Bitcoin exceeded expectations from yesterday's review, not only consolidated above 12K, but also updated annual highs above…
Thoughts on the market on 09.06.2022
Bitcoin during the day moved in the range of $29,830- $30,868. At the time of writing the review, it's trading for $30,120. Total crypto market capitalization of $1.235 Trillion, BTC and ETH dominance index of 46.5%, 17.6%, fear index 11.
US indices were down yesterday, Nasdaq down 0.73% , Dow Jones shed 0.81% , S&P 500 down 1.08% to close at 4115. Oil above 123.8, dollar index 102.63 Interestingly, the Nasdaq fell less than the rest of the indices, although the opposite is usually the case. This is in favor of the attractiveness of technology stocks for purchases in the medium term. In an attempt to influence inflation, the US is considering lowering duties on Chinese goods. If this idea is implemented, then it will be positive for the market. Twitter announced its readiness to provide Elon Musk with the information he requested (data on social network users and bots). Whether the transaction will take place depends on the conclusions that Musk will make from this information. Most likely, he will conclude that the price of the transaction should be lowered.
The subject of monkeypox is gradually being rocked. WHO has stated that it can be re-infected and that there are already more than 1,000 cases worldwide. Considering the peculiarities of infection with this disease, I think that it is possible to get infected for the third time. Markets are waiting for data on inflation in the US, as well as the Fed meeting next week. These data will set the direction of the market for the next couple of weeks.
Bitcoin worked out the priority option from yesterday's review. (https://t.me/decryptedge/1134) At the same time, it did not decrease below $29820, and for the last 9 hours Bitcoin has been holding above $30K. It is oscillating within the large range of 28K-32K, where Bitcoin has been for almost a month after the drain in early May, a small range has formed with a lower border of $29,800 and an upper at $31,500. I think that soon, within 2 days or so Bitcoin will leave this small range. The priority option for today is Bitcoin in the range with the lower border at $29,800- $29,500 and the upper border at $31,500- $31,800. Alternative - fixing below $29,500.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin during the day moved in the range of $29,830- $30,868. At the time of writing the review, it's trading for $30,120. Total crypto market capitalization of $1.235 Trillion, BTC and ETH dominance index of 46.5%, 17.6%, fear index 11.
US indices were down yesterday, Nasdaq down 0.73% , Dow Jones shed 0.81% , S&P 500 down 1.08% to close at 4115. Oil above 123.8, dollar index 102.63 Interestingly, the Nasdaq fell less than the rest of the indices, although the opposite is usually the case. This is in favor of the attractiveness of technology stocks for purchases in the medium term. In an attempt to influence inflation, the US is considering lowering duties on Chinese goods. If this idea is implemented, then it will be positive for the market. Twitter announced its readiness to provide Elon Musk with the information he requested (data on social network users and bots). Whether the transaction will take place depends on the conclusions that Musk will make from this information. Most likely, he will conclude that the price of the transaction should be lowered.
The subject of monkeypox is gradually being rocked. WHO has stated that it can be re-infected and that there are already more than 1,000 cases worldwide. Considering the peculiarities of infection with this disease, I think that it is possible to get infected for the third time. Markets are waiting for data on inflation in the US, as well as the Fed meeting next week. These data will set the direction of the market for the next couple of weeks.
Bitcoin worked out the priority option from yesterday's review. (https://t.me/decryptedge/1134) At the same time, it did not decrease below $29820, and for the last 9 hours Bitcoin has been holding above $30K. It is oscillating within the large range of 28K-32K, where Bitcoin has been for almost a month after the drain in early May, a small range has formed with a lower border of $29,800 and an upper at $31,500. I think that soon, within 2 days or so Bitcoin will leave this small range. The priority option for today is Bitcoin in the range with the lower border at $29,800- $29,500 and the upper border at $31,500- $31,800. Alternative - fixing below $29,500.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Telegram
KryptoEdge
Thoughts on the market as of 08.06.2022
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of…
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of…
Thoughts on the market on 10.06.2022
Bitcoin still maintains the trading range moving from $30,680 to $29,540. As of writing the review it's trading for $30,092. Total crypto market capitalization of $1.229 Trillion, BTC and ETH dominance index 46.3% and 17.5%, fear index 13.
American markets fell yesterday. The Nasdaq fell by 2.75%, the Dow Jones lost 1.94% and the S&P 500 lost 2.38% to close on 4017. The dollar index rose and is now above 103.2. In my observation not good for crypto.
Essentially, Markets are waiting for the release of today's inflation data. If above 8.3 - the market has headed for the May lows, as the likelihood of even tougher actions by the Fed will increase. Inflation below 8.3 will be positive for the market. Although in the current realities, it is possible to obtain good inflation figures only due to the “correct” calculation methodology.
Biden called inflation "the bane of our existence." and surprisingly subtly noticed that it primarily affects the prices of food and gasoline. FYI, Bane means “a cause of great distress or annoyance.” It is interesting that the same Biden 5 months ago called inflation “a great value” . It is difficult to bring the economy out of a crisis when one is irrational. Inflation data, which will determine the current direction of the market, will be released today at 15:30 EAT.
Bitcoin worked out the priority version of yesterday's review at night there was a test of the lower limit of the range. The correction to $29,500 was quickly bought out and now Bitcoin is back above $30K. The priority option for today is Bitcoin in the range with the lower border at $29,500- $29,300 and the upper one at $31,800- $32,000. An alternative option is fixing below $29,300. Today here will be an expiration of Bitcoin options, which may cause increased volatility.
If we leave for the weekend with Bitcoin above $30,500, then alts will continue to rise. For the summary and our bias read here: https://t.me/decryptedge/1133
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin still maintains the trading range moving from $30,680 to $29,540. As of writing the review it's trading for $30,092. Total crypto market capitalization of $1.229 Trillion, BTC and ETH dominance index 46.3% and 17.5%, fear index 13.
American markets fell yesterday. The Nasdaq fell by 2.75%, the Dow Jones lost 1.94% and the S&P 500 lost 2.38% to close on 4017. The dollar index rose and is now above 103.2. In my observation not good for crypto.
Essentially, Markets are waiting for the release of today's inflation data. If above 8.3 - the market has headed for the May lows, as the likelihood of even tougher actions by the Fed will increase. Inflation below 8.3 will be positive for the market. Although in the current realities, it is possible to obtain good inflation figures only due to the “correct” calculation methodology.
Biden called inflation "the bane of our existence." and surprisingly subtly noticed that it primarily affects the prices of food and gasoline. FYI, Bane means “a cause of great distress or annoyance.” It is interesting that the same Biden 5 months ago called inflation “a great value” . It is difficult to bring the economy out of a crisis when one is irrational. Inflation data, which will determine the current direction of the market, will be released today at 15:30 EAT.
Bitcoin worked out the priority version of yesterday's review at night there was a test of the lower limit of the range. The correction to $29,500 was quickly bought out and now Bitcoin is back above $30K. The priority option for today is Bitcoin in the range with the lower border at $29,500- $29,300 and the upper one at $31,800- $32,000. An alternative option is fixing below $29,300. Today here will be an expiration of Bitcoin options, which may cause increased volatility.
If we leave for the weekend with Bitcoin above $30,500, then alts will continue to rise. For the summary and our bias read here: https://t.me/decryptedge/1133
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Telegram
KryptoEdge
Thoughts on the Crypto Market 07.06.2022.
A few hours ago, Bitcoin fell sharply to $29,350- $29,400. At the time of writing the review, it's trading for $29,372 with a total crypto market capitalization of $1.207 Trillion, BTC and ETH dominance index of…
A few hours ago, Bitcoin fell sharply to $29,350- $29,400. At the time of writing the review, it's trading for $29,372 with a total crypto market capitalization of $1.207 Trillion, BTC and ETH dominance index of…
Thoughts on the market on 11.06.2022
Bitcoin lost support at $29,300- $29,500, reaching a low of $28,850, after which it returned above $29K and at the time of writing the review is worth $29,289. Total crypto market capitalization of $1.195 Trillion, BTC and ETH dominance index of 46.7%, 16.9% fear index 12.
American markets fell yesterday. The Nasdaq fell by 3.52%, the Dow Jones lost 2.73% and the S&P 500 fell by 2.91% to close at 3900. The dollar index rose and closed at 104.23.
The main negative was the announcement of annual inflation at 8.6%, which is significantly higher than the expectations. Also added was the quarantine in Shanghai (yes, their coronapsychosis is not over yet). As a result, the stock indexes updated their June lows, and the dollar index went to the highs, although it has not yet reached the May levels. Side note: #Uganda has isolated six people suspected to have #monkeypox. Two of the suspected cases have been isolated in the south-western Kisoro District, which borders the DR Congo and #Rwanda, while four have been taken into isolation in Kampala City. Uganda Virus Research Institute (UVRI) said it began preliminary investigations after receiving information that the six presented symptoms similar to those caused by monkeypox.
On inflation, let's not forget Biden,who is once again showing his "cognitive abilities" "We have never seen anything like Putin's tax on food and gasoline at once." It seems that he himself believes in this and has forgotten who in 2021 issued “aid packages” and “infrastructure packages” worth trillions of dollars, and in 2022 pushed through anti-Russian sanctions.
On such a negative external background, Bitcoin fixed under $29,300, thereby working out an alternative version of yesterday's review. Support is now at $28,900- $28,800. The priority option for the weekend is Bitcoin in a range with a lower border at $28,300- $28,000 and an upper border at $29,800- $30,200. An alternative option is fixing above 30K.
As always, altcoins are losing ground more than Bitcoin. Ethereum lost support at $1,700, there is no real shake-out yet for the alts. In order to understand the market sentiment, it is important whether the weekend market will see the alts drain, or the stability and growth of individual assets.
From interesting:
- Kwon testified that the $80M was withdrawn a few months before the collapse of Terra, and that he brought them out. It's bad for Kwon. For the market, it's ok. Since it says that the situation is not caused by systemic problems, but solely by the implementation of criminal intent.
- Bloomberg's terminal will contain data on 40 cryptocurrencies. Including XRP, BNB, Solana.
- Brian Armstrong of Coinbase stated that Bitcoin could become a reserve currency. This has been talked about for a long time (https://t.me/decryptedge/862).
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin lost support at $29,300- $29,500, reaching a low of $28,850, after which it returned above $29K and at the time of writing the review is worth $29,289. Total crypto market capitalization of $1.195 Trillion, BTC and ETH dominance index of 46.7%, 16.9% fear index 12.
American markets fell yesterday. The Nasdaq fell by 3.52%, the Dow Jones lost 2.73% and the S&P 500 fell by 2.91% to close at 3900. The dollar index rose and closed at 104.23.
The main negative was the announcement of annual inflation at 8.6%, which is significantly higher than the expectations. Also added was the quarantine in Shanghai (yes, their coronapsychosis is not over yet). As a result, the stock indexes updated their June lows, and the dollar index went to the highs, although it has not yet reached the May levels. Side note: #Uganda has isolated six people suspected to have #monkeypox. Two of the suspected cases have been isolated in the south-western Kisoro District, which borders the DR Congo and #Rwanda, while four have been taken into isolation in Kampala City. Uganda Virus Research Institute (UVRI) said it began preliminary investigations after receiving information that the six presented symptoms similar to those caused by monkeypox.
On inflation, let's not forget Biden,who is once again showing his "cognitive abilities" "We have never seen anything like Putin's tax on food and gasoline at once." It seems that he himself believes in this and has forgotten who in 2021 issued “aid packages” and “infrastructure packages” worth trillions of dollars, and in 2022 pushed through anti-Russian sanctions.
On such a negative external background, Bitcoin fixed under $29,300, thereby working out an alternative version of yesterday's review. Support is now at $28,900- $28,800. The priority option for the weekend is Bitcoin in a range with a lower border at $28,300- $28,000 and an upper border at $29,800- $30,200. An alternative option is fixing above 30K.
As always, altcoins are losing ground more than Bitcoin. Ethereum lost support at $1,700, there is no real shake-out yet for the alts. In order to understand the market sentiment, it is important whether the weekend market will see the alts drain, or the stability and growth of individual assets.
From interesting:
- Kwon testified that the $80M was withdrawn a few months before the collapse of Terra, and that he brought them out. It's bad for Kwon. For the market, it's ok. Since it says that the situation is not caused by systemic problems, but solely by the implementation of criminal intent.
- Bloomberg's terminal will contain data on 40 cryptocurrencies. Including XRP, BNB, Solana.
- Brian Armstrong of Coinbase stated that Bitcoin could become a reserve currency. This has been talked about for a long time (https://t.me/decryptedge/862).
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Telegram
KryptoEdge
Cryptocurrencies “Has The Potential for Undermining Currencies, for undermining the role of the dollar as the reserve currency, [and] for destabilizing nations.” Hillary Clinton.
Thoughts on the market 23.11.2021
After returning to the $57,000 level, the…
Thoughts on the market 23.11.2021
After returning to the $57,000 level, the…
Thoughts on the Crypto Market 12.06.2022.
Quite a volatile weekend, Bitcoin excited aggressively the long held trading range of $28,300- $30,200 to a new low of $23,964. At the time of writing the review, it's trading for $24,144 with a total crypto market capitalization of $1.178 Trillion, BTC and ETH dominance index of 47.4% and 15.2%, fear index 11.
American indices closed for the weekend at 3900, dollar index is growing and is already above 104.6.
This is not by surprise if you have been reading the daily crypto updates. As we indicated here(https://t.me/decryptedge/1135) So far it's a -16% drain, with ETH and altcoins taking a bigger hit. This correction has seen the price move to its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets. A crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market. Macro factors are contributing to the bearishness in the crypto markets, with rampant inflation continuing and the Federal Reserve expected to hike interest rates this week to control rising prices.
Will give an update later this afternoon as once the US wall street opens we expect more volatility. Hold on tight for now and maintain your risk management strategies.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Quite a volatile weekend, Bitcoin excited aggressively the long held trading range of $28,300- $30,200 to a new low of $23,964. At the time of writing the review, it's trading for $24,144 with a total crypto market capitalization of $1.178 Trillion, BTC and ETH dominance index of 47.4% and 15.2%, fear index 11.
American indices closed for the weekend at 3900, dollar index is growing and is already above 104.6.
This is not by surprise if you have been reading the daily crypto updates. As we indicated here(https://t.me/decryptedge/1135) So far it's a -16% drain, with ETH and altcoins taking a bigger hit. This correction has seen the price move to its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets. A crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market. Macro factors are contributing to the bearishness in the crypto markets, with rampant inflation continuing and the Federal Reserve expected to hike interest rates this week to control rising prices.
Will give an update later this afternoon as once the US wall street opens we expect more volatility. Hold on tight for now and maintain your risk management strategies.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Telegram
KryptoEdge
Thoughts on the market on 09.06.2022
Bitcoin during the day moved in the range of $29,830- $30,868. At the time of writing the review, it's trading for $30,120. Total crypto market capitalization of $1.235 Trillion, BTC and ETH dominance index of 46.5%,…
Bitcoin during the day moved in the range of $29,830- $30,868. At the time of writing the review, it's trading for $30,120. Total crypto market capitalization of $1.235 Trillion, BTC and ETH dominance index of 46.5%,…
Thoughts on the Crypto market on 14.06.2022.
Bitcoin finally excited the key range of 32K - $29K rather violently to a new low of $20,816 early this morning. It has now bounced back $23,288. As at the time of writing the review Bitcoin is trading for $22,232. Total crypto market capitalization has fallen below $1T, now at $931 Billion. BTC and ETH dominance index of 45.0% and 15.3%, 16.9% fear index 8. .
American markets fell yesterday upon opening, the Nasdaq fell by 4.68%, the Dow Jones lost 876.05 points, or 2.8%, and the S&P 500 fell by 4.17% to close at 3749. The dollar index is at an ATH of 105.285. FYI, the 4.68% fall of Nasdaq is equivalent to a fall of $5tn in total market capitalization from its all-time high last November, making crypto correction a wisp.
With such a background and Bitcoins correlation with the wall street, the crypto market took a greater beating. Around $200 billion has now been wiped off the cryptocurrency market since Saturday as the value of all digital coins fell below $1 trillion for the first time since Feb. 2021. More concerns mounted over the solvency of lending platform Celsius and as Binance paused withdrawals briefly. I find it a convenient coincidence that this happens when there is a huge drain of Bitcoin.
Since the bitcoin price dropped below $21,000, there is an expected trigger of a "margin call" or a demand for extra capital, from MicroStrategy. If this happens the company has to provide more capital or liquidate the loan's collateral. MictroStrategy, borrowed $205 million from crypto bank Silvergate Capital in March, a three-year loan mostly secured against some 19,466 bitcoins.
Bitcoin is at the weekly moving average of 200 at the price of $22,336. This is good enough for now, and looking forward to a rebound to $28/30k before the next dump to $13K/9K zone. A range around the weekly 200MA is an alternative.
There is no strong or apparent evidence to support what we would like to see happen, only a biased view and a wish. The next stop should be around $18/17K the first support below MA 200. Be sure to stick with risk management.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin finally excited the key range of 32K - $29K rather violently to a new low of $20,816 early this morning. It has now bounced back $23,288. As at the time of writing the review Bitcoin is trading for $22,232. Total crypto market capitalization has fallen below $1T, now at $931 Billion. BTC and ETH dominance index of 45.0% and 15.3%, 16.9% fear index 8. .
American markets fell yesterday upon opening, the Nasdaq fell by 4.68%, the Dow Jones lost 876.05 points, or 2.8%, and the S&P 500 fell by 4.17% to close at 3749. The dollar index is at an ATH of 105.285. FYI, the 4.68% fall of Nasdaq is equivalent to a fall of $5tn in total market capitalization from its all-time high last November, making crypto correction a wisp.
With such a background and Bitcoins correlation with the wall street, the crypto market took a greater beating. Around $200 billion has now been wiped off the cryptocurrency market since Saturday as the value of all digital coins fell below $1 trillion for the first time since Feb. 2021. More concerns mounted over the solvency of lending platform Celsius and as Binance paused withdrawals briefly. I find it a convenient coincidence that this happens when there is a huge drain of Bitcoin.
Since the bitcoin price dropped below $21,000, there is an expected trigger of a "margin call" or a demand for extra capital, from MicroStrategy. If this happens the company has to provide more capital or liquidate the loan's collateral. MictroStrategy, borrowed $205 million from crypto bank Silvergate Capital in March, a three-year loan mostly secured against some 19,466 bitcoins.
Bitcoin is at the weekly moving average of 200 at the price of $22,336. This is good enough for now, and looking forward to a rebound to $28/30k before the next dump to $13K/9K zone. A range around the weekly 200MA is an alternative.
There is no strong or apparent evidence to support what we would like to see happen, only a biased view and a wish. The next stop should be around $18/17K the first support below MA 200. Be sure to stick with risk management.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 15.06. 2022
Bitcoin is trading below the weekly moving average, and updated another ATL of $20,723 from yesterday's $20,850, it has been trading in the range of 21500-22800 for several days now.
At the time of writing the review, Bitcoin is worth $21,052. Total crypto market capitalization of $929 billion, BTC & ETH dominance index 44.8 and 15.1%, fear index 7!.
Update: $20,365 as of posting.
Yesterday’s situation on the US stock market was more calm - fell slowly and gradually, some stocks even grew. At the end of the day Nasdaq up 0.18%, Dow Jones down 0.50 to yearly low, S&P 500 shed another 0.38% to close at 3735. The dollar index is above 105 and continues to grow.
The collapse in the markets - a reaction to inflation of 8.6% in the United States (a record since 1981). Markets expect the Fed to react by raising rates by 0.75% instead of the previously announced 0.5%. There were no official statements by the Fed representatives on this matter, statements will be made today, following the results of the Fed meeting. Information on the rate at 21:00 EAT, press conference at 21:30.
Raising the rate by 0.75% and statements about a merciless fight against inflation will collapse the markets even more. If it is limited to 0.5%, it will be positive for the market. Logically, for political survival in the elections in November, Biden and the Democrats should not tighten the monetary policy much. A strong rate hike is a continuation of the collapse of the stock markets (and this will affect half of the voters), a collapse in the real estate market, a reduction in jobs, an increase in the debt burden on both the state and citizens. So, a defeat in the upcoming elections with the prospect of further impeachment of Biden is probable.
On the other hand, the Fed is in charge of the dollar. At the same time, Biden, at a meeting with Powell, recently repeatedly emphasized that the Fed is independent in its actions. Thus, he emphasized that the Fed will be responsible for any result. For the Fed, the fight against inflation may be more important than the political prospects of the Democrats, and they will make a tough decision.
Bitcoin is now hovering for 20K, market capitalization less than 1 trillion, correlation with the stock market is strong, and the market outlook is bleak. What's next? Will there be a drop below 20K? In the current realities, this is quite possible. As said yesterday a drop to 18K is just about -10% from current levels, so it won't come as a surprise. There are also stop loss orders layed coupled with panic, price can dip to 15K. Read Capitulation? Good thing is nothing catastrophic will happen. Bitcoin fell to 16K - 2 years ago, what holds still is, Bitcoin is an asset that’s only getting more scarce.
If Bitcoin falls below 20K or not - it doesn't really matter. Within 6-12 months we will see it at new highs. Given the extreme fear index, a fall below 20K is at the edge. We shared our bais yesterday( https://t.me/decryptedge/1139)
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin is trading below the weekly moving average, and updated another ATL of $20,723 from yesterday's $20,850, it has been trading in the range of 21500-22800 for several days now.
At the time of writing the review, Bitcoin is worth $21,052. Total crypto market capitalization of $929 billion, BTC & ETH dominance index 44.8 and 15.1%, fear index 7!.
Update: $20,365 as of posting.
Yesterday’s situation on the US stock market was more calm - fell slowly and gradually, some stocks even grew. At the end of the day Nasdaq up 0.18%, Dow Jones down 0.50 to yearly low, S&P 500 shed another 0.38% to close at 3735. The dollar index is above 105 and continues to grow.
The collapse in the markets - a reaction to inflation of 8.6% in the United States (a record since 1981). Markets expect the Fed to react by raising rates by 0.75% instead of the previously announced 0.5%. There were no official statements by the Fed representatives on this matter, statements will be made today, following the results of the Fed meeting. Information on the rate at 21:00 EAT, press conference at 21:30.
Raising the rate by 0.75% and statements about a merciless fight against inflation will collapse the markets even more. If it is limited to 0.5%, it will be positive for the market. Logically, for political survival in the elections in November, Biden and the Democrats should not tighten the monetary policy much. A strong rate hike is a continuation of the collapse of the stock markets (and this will affect half of the voters), a collapse in the real estate market, a reduction in jobs, an increase in the debt burden on both the state and citizens. So, a defeat in the upcoming elections with the prospect of further impeachment of Biden is probable.
On the other hand, the Fed is in charge of the dollar. At the same time, Biden, at a meeting with Powell, recently repeatedly emphasized that the Fed is independent in its actions. Thus, he emphasized that the Fed will be responsible for any result. For the Fed, the fight against inflation may be more important than the political prospects of the Democrats, and they will make a tough decision.
Bitcoin is now hovering for 20K, market capitalization less than 1 trillion, correlation with the stock market is strong, and the market outlook is bleak. What's next? Will there be a drop below 20K? In the current realities, this is quite possible. As said yesterday a drop to 18K is just about -10% from current levels, so it won't come as a surprise. There are also stop loss orders layed coupled with panic, price can dip to 15K. Read Capitulation? Good thing is nothing catastrophic will happen. Bitcoin fell to 16K - 2 years ago, what holds still is, Bitcoin is an asset that’s only getting more scarce.
If Bitcoin falls below 20K or not - it doesn't really matter. Within 6-12 months we will see it at new highs. Given the extreme fear index, a fall below 20K is at the edge. We shared our bais yesterday( https://t.me/decryptedge/1139)
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Telegram
KryptoEdge
Thoughts on the Crypto market on 14.06.2022.
Bitcoin finally excited the key range of 32K - $29K rather violently to a new low of $20,816 early this morning. It has now bounced back $23,288. As at the time of writing the review Bitcoin is trading for $22…
Bitcoin finally excited the key range of 32K - $29K rather violently to a new low of $20,816 early this morning. It has now bounced back $23,288. As at the time of writing the review Bitcoin is trading for $22…
Thoughts on the market on 16.06.2022.
Bitcoin continued the drop and after our update yesterday, retracing further to $20,079. It then bounced back, reaching above $22,940, followed by a slight decline. At the time of writing the review, the price of Bitcoin is $21,225 Total crypto market capitalization of $954 billion, BTC and ETH dominance index of 44.4%, 15.1% fear index 7!
Stock markets were up yesterday. The Nasdaq rose 2.5%, the Dow Jones gained 1% and the S&P 500 rose 1.46% to close at 3789. The dollar index fell slightly and is now at 104.7.
The Fed raised the rate by 0.75%. This is the biggest rate increase since 1994, and at the same time, Powell said that the neutral level of the rate is 3-3.5% (although earlier it was said that the neutral level is 2.5%). They also announced their intention to raise the rate by 0.5-0.75% in July as well, and continue to reduce the balance sheet at the same pace. Expected reduction of the rate only in 2024.
From all that has been said, with some positives, we can only say that a rate increase by 0.75% will not become a common practice. Nevertheless, this was enough for the growth of the markets - the indices rebounded well, and the dollar index fell below 105. At the same time, the volatility index also fell, which indicates a decrease in the level of fear in the market.
Why growth, if the rate was raised, is being raised and will be raised?
There are a few points here.
1. Consensus in the market. Everyone expected that with a 0.75% rate increase, the markets would fall. The consensus leads to the fact that everything happens the other way around.
2. Rates are going up and will go up, but there is too much money in the market. The printed trillions have not gone anywhere, and with inflation at 8.6%, they have nowhere to go. Stock markets are down more than 20% from their highs and look attractive to buy.
3. The 0.75% rate hike was already priced in. The fall of Friday and Monday - this was the reaction to the future rate hike.
I think that before the end of the week, the decline in stock indices is much more likely than their growth. On June 17, we expect great volatility - there will be an expiration of options on US shares for 3.2 trillion dollars. This is almost 4 capitalizations of the entire crypto market.
Today there is data on the US labor market. It is better for the market that the data be negative, this may slow down the desire of the Fed to fight inflation.
So far, there are no signs that the Fed will follow this plan. A strong dollar is more important than the political prospects of the democrats, it seems they want to get rid of Biden. That is understandable - the US president seems to be losing touch with reality.
Bitcoin came close to $20K yesterday, provoking adherents of the “crypto winter” to open shorts. But after the Fed's statements, Bitcoin moved to growth and went above $22,950. After that, it decreased and has been moving towards $20K for more than 8 hours.
With bitcoin now marking a range with a lower border at $20,100- $20,000 and an upper border at $22,700- $23,000, the possibility of going below $20K still remains. The case of external negativity, such as a fall in stock indices by another 3-5%, and in the case of negative on the crypto market associated with the collapse of funds(margin calls). There may be sell off of crypto assets to the market and liquidation of collateral, which will lead to a fall in the market by another 10-15%.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin continued the drop and after our update yesterday, retracing further to $20,079. It then bounced back, reaching above $22,940, followed by a slight decline. At the time of writing the review, the price of Bitcoin is $21,225 Total crypto market capitalization of $954 billion, BTC and ETH dominance index of 44.4%, 15.1% fear index 7!
Stock markets were up yesterday. The Nasdaq rose 2.5%, the Dow Jones gained 1% and the S&P 500 rose 1.46% to close at 3789. The dollar index fell slightly and is now at 104.7.
The Fed raised the rate by 0.75%. This is the biggest rate increase since 1994, and at the same time, Powell said that the neutral level of the rate is 3-3.5% (although earlier it was said that the neutral level is 2.5%). They also announced their intention to raise the rate by 0.5-0.75% in July as well, and continue to reduce the balance sheet at the same pace. Expected reduction of the rate only in 2024.
From all that has been said, with some positives, we can only say that a rate increase by 0.75% will not become a common practice. Nevertheless, this was enough for the growth of the markets - the indices rebounded well, and the dollar index fell below 105. At the same time, the volatility index also fell, which indicates a decrease in the level of fear in the market.
Why growth, if the rate was raised, is being raised and will be raised?
There are a few points here.
1. Consensus in the market. Everyone expected that with a 0.75% rate increase, the markets would fall. The consensus leads to the fact that everything happens the other way around.
2. Rates are going up and will go up, but there is too much money in the market. The printed trillions have not gone anywhere, and with inflation at 8.6%, they have nowhere to go. Stock markets are down more than 20% from their highs and look attractive to buy.
3. The 0.75% rate hike was already priced in. The fall of Friday and Monday - this was the reaction to the future rate hike.
I think that before the end of the week, the decline in stock indices is much more likely than their growth. On June 17, we expect great volatility - there will be an expiration of options on US shares for 3.2 trillion dollars. This is almost 4 capitalizations of the entire crypto market.
Today there is data on the US labor market. It is better for the market that the data be negative, this may slow down the desire of the Fed to fight inflation.
So far, there are no signs that the Fed will follow this plan. A strong dollar is more important than the political prospects of the democrats, it seems they want to get rid of Biden. That is understandable - the US president seems to be losing touch with reality.
Bitcoin came close to $20K yesterday, provoking adherents of the “crypto winter” to open shorts. But after the Fed's statements, Bitcoin moved to growth and went above $22,950. After that, it decreased and has been moving towards $20K for more than 8 hours.
With bitcoin now marking a range with a lower border at $20,100- $20,000 and an upper border at $22,700- $23,000, the possibility of going below $20K still remains. The case of external negativity, such as a fall in stock indices by another 3-5%, and in the case of negative on the crypto market associated with the collapse of funds(margin calls). There may be sell off of crypto assets to the market and liquidation of collateral, which will lead to a fall in the market by another 10-15%.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 17.06. 2022.
Bitcoin is approaching $20K again. It had a sharp decline to $20,200, at the time of writing the review, Bitcoin is worth $21,079. Total crypto market capitalization is now at $902 billion, BTC, ETH dominance index of 44.1% and 14.8%, fear index 9.
Stock markets declined too yesterday, the Nasdaq fell by 4.08%, the Dow Jones, 2.42%, the S&P 500 lost 3.25% to close at 3666. The dollar index fell below 104.
Markets have realized the prospects for monetary policy, announced by the Fed the day before, as well as the threat of recession and stagflation hanging over the US economy; that the fall of the markets is very likely. The prospects for the stock market are rather gloomy.
Worst of all, the Fed has no plan, as Powell himself admits when he says, “Our projections are not a plan, no one knows exactly where the economy will be in a year.” Instead of decisive and definite actions on the strategy, the Fed is only belatedly responding to challenges. The result will be a fallen stock market, and a slowdown in the economy, and a debt crisis, and political instability. At the same time, dollar inflation will not go away either, since even a 3.5% rate will not solve the problem of extra trillions of money supply that have appeared over the past 2 years. For today we expect increased volatility due to the expiration of stock options.
The situation with Bitcoin is interesting. Against the backdrop of such a fall in American indices, it just approached the lower limit of the range. The decrease in the correlation between Bitcoin and the stock market is clearly visible. Such a correlation has no economic sense, and can be broken at any moment. It is very likely that it may be this year.
The fall of Bitcoin below $20K is possible without correlation with the american key indices. More companies continue to suffer big losses in the fall of the markets, Singapore-based Three Arrows Capital, or 3AC, Celsius Network and Microstrategy, who’s CEO Michael Saylor now debunks the rumor that his company is close to having to liquidate its bitcoin to meet a margin call for a bitcoin-backed loan. Saylor explained that Microstrategy’s 115,109 bitcoins can cover the $410 million collateral down to the BTC price of $3,562. However, if the price of the crypto were to fall even lower, Microstrategy has other assets it could post as collateral, the executive detailed, elaborating: “Microstrategy has 115,109 BTC that it can pledge. If the price of BTC falls below $3,562 the company could post some other collateral.”
Some more news, Elon Musk is being sued with the “promotion of the crypto-currency pyramid” #Dogecoin. Under the influence of Musk, an “asset of no value” was bought. On this basis, the plaintiff is seeking a $258 billion dollar settlement. If someone buys a "no value" asset under someone's influence, he should be limited in his legal capacity, right? As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin is approaching $20K again. It had a sharp decline to $20,200, at the time of writing the review, Bitcoin is worth $21,079. Total crypto market capitalization is now at $902 billion, BTC, ETH dominance index of 44.1% and 14.8%, fear index 9.
Stock markets declined too yesterday, the Nasdaq fell by 4.08%, the Dow Jones, 2.42%, the S&P 500 lost 3.25% to close at 3666. The dollar index fell below 104.
Markets have realized the prospects for monetary policy, announced by the Fed the day before, as well as the threat of recession and stagflation hanging over the US economy; that the fall of the markets is very likely. The prospects for the stock market are rather gloomy.
Worst of all, the Fed has no plan, as Powell himself admits when he says, “Our projections are not a plan, no one knows exactly where the economy will be in a year.” Instead of decisive and definite actions on the strategy, the Fed is only belatedly responding to challenges. The result will be a fallen stock market, and a slowdown in the economy, and a debt crisis, and political instability. At the same time, dollar inflation will not go away either, since even a 3.5% rate will not solve the problem of extra trillions of money supply that have appeared over the past 2 years. For today we expect increased volatility due to the expiration of stock options.
The situation with Bitcoin is interesting. Against the backdrop of such a fall in American indices, it just approached the lower limit of the range. The decrease in the correlation between Bitcoin and the stock market is clearly visible. Such a correlation has no economic sense, and can be broken at any moment. It is very likely that it may be this year.
The fall of Bitcoin below $20K is possible without correlation with the american key indices. More companies continue to suffer big losses in the fall of the markets, Singapore-based Three Arrows Capital, or 3AC, Celsius Network and Microstrategy, who’s CEO Michael Saylor now debunks the rumor that his company is close to having to liquidate its bitcoin to meet a margin call for a bitcoin-backed loan. Saylor explained that Microstrategy’s 115,109 bitcoins can cover the $410 million collateral down to the BTC price of $3,562. However, if the price of the crypto were to fall even lower, Microstrategy has other assets it could post as collateral, the executive detailed, elaborating: “Microstrategy has 115,109 BTC that it can pledge. If the price of BTC falls below $3,562 the company could post some other collateral.”
Some more news, Elon Musk is being sued with the “promotion of the crypto-currency pyramid” #Dogecoin. Under the influence of Musk, an “asset of no value” was bought. On this basis, the plaintiff is seeking a $258 billion dollar settlement. If someone buys a "no value" asset under someone's influence, he should be limited in his legal capacity, right? As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 20.06.2022
By the end of the day on June 19, Bitcoin returned above $20K and spent more than 6 hours above this level. There were some slight drains to $19,600, as at the time of writing, Bitcoin is worth $20,334. Total Crypto market capitalisation of $877 billion, BTC and ETH dominance index of 43.5% and 13.9%, fear index 9.
There is no trading on the US stock market today. Futures on the S&P 500 are still in a slight plus, and the dollar index is declining. Oil is declining from a high of 123 at the beginning of this month to now 110, gold is growing after a sharp decline to 1805, from a recent rally to 1879.
Fed officials continue aggressive rhetoric - Governor Christopher J. Waller talks about the need to raise rates above the neutral level, while Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank’s 2% target that's an increase in the risk of a recession and Yellen talks about a slowdown in the economy. Today there is data on inflation in Germany, as well as a speech by ECB President Christine Lagarde. It is obvious that we will talk about the reaction of the ECB to record inflation.
In the crypto market, the main impact on the market now is the liquidation of large margin positions. It is for this reason that Bitcoin was drained by $17,600 on June 18th. Selling ETH from Three Arrows Capital and Celsius brought down the price of the second cryptocurrency by capitalisation below $1,000. There is a threat of liquidation of a large position in SOL. Solana-based lending and borrowing service platform Solend users voted to control the largest whale account to mitigate the liquidation risks. This is due to the fact that the whale account and its extremely large margin position were posing a threat to an on-chain liquidation. The large holding of the whale was reportedly causing the Solend protocol and the users to be in a risk bubble. The governance vote will grant Solend Labs with ’emergency powers’ to liquidate the vulnerable assets of the whale. Talk about a dent to decentralisation!
The market will go through a cleansing by fire. It will be abandoned by those who do not know how to manage risks. “Weak hands” will give away their assets cheaply, and those who cannot overcome fear and see a “paper loss”. The crypto, which is sold by the weak and cowardly, is bought by someone: after all, there are always two sides to a deal. Those who understand the prospects and do not fall into the illusion of what is happening now in the market. These people will become the basis for new good times in the market.
For today expect Bitcoin in a range with a lower border of $18,000-$17,500 and an upper border of $20,800- $21,200.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
By the end of the day on June 19, Bitcoin returned above $20K and spent more than 6 hours above this level. There were some slight drains to $19,600, as at the time of writing, Bitcoin is worth $20,334. Total Crypto market capitalisation of $877 billion, BTC and ETH dominance index of 43.5% and 13.9%, fear index 9.
There is no trading on the US stock market today. Futures on the S&P 500 are still in a slight plus, and the dollar index is declining. Oil is declining from a high of 123 at the beginning of this month to now 110, gold is growing after a sharp decline to 1805, from a recent rally to 1879.
Fed officials continue aggressive rhetoric - Governor Christopher J. Waller talks about the need to raise rates above the neutral level, while Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank’s 2% target that's an increase in the risk of a recession and Yellen talks about a slowdown in the economy. Today there is data on inflation in Germany, as well as a speech by ECB President Christine Lagarde. It is obvious that we will talk about the reaction of the ECB to record inflation.
In the crypto market, the main impact on the market now is the liquidation of large margin positions. It is for this reason that Bitcoin was drained by $17,600 on June 18th. Selling ETH from Three Arrows Capital and Celsius brought down the price of the second cryptocurrency by capitalisation below $1,000. There is a threat of liquidation of a large position in SOL. Solana-based lending and borrowing service platform Solend users voted to control the largest whale account to mitigate the liquidation risks. This is due to the fact that the whale account and its extremely large margin position were posing a threat to an on-chain liquidation. The large holding of the whale was reportedly causing the Solend protocol and the users to be in a risk bubble. The governance vote will grant Solend Labs with ’emergency powers’ to liquidate the vulnerable assets of the whale. Talk about a dent to decentralisation!
The market will go through a cleansing by fire. It will be abandoned by those who do not know how to manage risks. “Weak hands” will give away their assets cheaply, and those who cannot overcome fear and see a “paper loss”. The crypto, which is sold by the weak and cowardly, is bought by someone: after all, there are always two sides to a deal. Those who understand the prospects and do not fall into the illusion of what is happening now in the market. These people will become the basis for new good times in the market.
For today expect Bitcoin in a range with a lower border of $18,000-$17,500 and an upper border of $20,800- $21,200.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 21.06.2022.
Bitcoin maintained the range of $19,600- $21,060 yesterday. Today it has held above the upper range, at the time of writing, Bitcoin is worth $21,522. Total crypto market capitalisation of $942billion, BTC and ETH dominance index 43.5% and 15.1% , fear index 9.
Markets yesterday opened positively - the dollar index is falling, the S&P 500 futures are rising, Oil has risen by more than 1.5%
The highlight of the week will be Powell's performance on Thursday. So far, the Fed has taken a tough stance on fighting inflation, and any softening of the rhetoric will be a plus for the markets. The situation is such that Powell's rhetoric remains the only hope for the market so far. In the EU, the picture is worse. Added to inflation is the situation with the impossibility of filling gas storage facilities before winter.
Also, the situation for the ECB is complicated by the different debt burden in the EU countries and the difficulty in conducting a single monetary policy in connection with this. If for Germany it would be possible and necessary to raise the rate, then Greece with its debt burden will not endure this. As a result, it will be necessary to raise the rate and to redeem the bonds and get both inflation and recession at the same time.
Bitcoin remains in the range that was outlined in yesterday's review. Several attempts to pass the upper limit (resistance at $20,800- $21,200) were unsuccessful, there was no test of the lower limit yet.
To some news, - USDC stable has overtaken USDT in terms of daily transaction volume. The reason for the loss of positions as the permanent market leader was the collapse of Terra and the subsequent events in the market. Unlike many other companies, Bitfinex and Tether are not going to cut staff even in a falling market.
- The management company ProShares launched a reverse exchange-traded fund, which makes it possible to earn on the fall of Bitcoin.
If they launched the product when Bitcoin was near the highs, it would be a useful risk hedging tool. To offer your customers the opportunity to “make money on the fall of Bitcoin” after it fell from the highs by more than 3 times - this indicates a strong desire to save customers from money. 98.9% that they will not cover client positions on this instrument, but will become counterparties of clients and turn the funds of those who want to capitalise on the fall of Bitcoin in their favour.
Expectations for Bitcoin are the same: movement within the range and lower border of $18,000- $17,500 and the upper one at $20,800- $21,200.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin maintained the range of $19,600- $21,060 yesterday. Today it has held above the upper range, at the time of writing, Bitcoin is worth $21,522. Total crypto market capitalisation of $942billion, BTC and ETH dominance index 43.5% and 15.1% , fear index 9.
Markets yesterday opened positively - the dollar index is falling, the S&P 500 futures are rising, Oil has risen by more than 1.5%
The highlight of the week will be Powell's performance on Thursday. So far, the Fed has taken a tough stance on fighting inflation, and any softening of the rhetoric will be a plus for the markets. The situation is such that Powell's rhetoric remains the only hope for the market so far. In the EU, the picture is worse. Added to inflation is the situation with the impossibility of filling gas storage facilities before winter.
Also, the situation for the ECB is complicated by the different debt burden in the EU countries and the difficulty in conducting a single monetary policy in connection with this. If for Germany it would be possible and necessary to raise the rate, then Greece with its debt burden will not endure this. As a result, it will be necessary to raise the rate and to redeem the bonds and get both inflation and recession at the same time.
Bitcoin remains in the range that was outlined in yesterday's review. Several attempts to pass the upper limit (resistance at $20,800- $21,200) were unsuccessful, there was no test of the lower limit yet.
To some news, - USDC stable has overtaken USDT in terms of daily transaction volume. The reason for the loss of positions as the permanent market leader was the collapse of Terra and the subsequent events in the market. Unlike many other companies, Bitfinex and Tether are not going to cut staff even in a falling market.
- The management company ProShares launched a reverse exchange-traded fund, which makes it possible to earn on the fall of Bitcoin.
If they launched the product when Bitcoin was near the highs, it would be a useful risk hedging tool. To offer your customers the opportunity to “make money on the fall of Bitcoin” after it fell from the highs by more than 3 times - this indicates a strong desire to save customers from money. 98.9% that they will not cover client positions on this instrument, but will become counterparties of clients and turn the funds of those who want to capitalise on the fall of Bitcoin in their favour.
Expectations for Bitcoin are the same: movement within the range and lower border of $18,000- $17,500 and the upper one at $20,800- $21,200.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 22.06.2022.
Bitcoin during the day was in the range of $20,380- $21,730 At the time of writing the review, Bitcoin is worth $20,379 Total crypto market capitalization of $898, billion, BTC, ETH dominance index of 43.3% and 14.7%, fear index 11
Stock markets were up yesterday. The Nasdaq rose 2.51%, the Dow Jones 2.15% and the S&P 500 gained 2.45% to close at 3764. The dollar index initially declined, but then turned to growth and is now above 104.3, while oil fell by more than 3%.
Yesterday's speech by Barkin from the Fed was with the same rhetoric - a recession is coming soon, but the rate still needs to be raised by 0.5-0.75% already in July. There was nothing new in this, and such rhetoric did not interfere with the growth of the market. In general, the indices were growing, but the likes of META, fell to the annual low. The shares of Twitter and TESLA rose on the news that the Board of Directors of Twitter approved the deal to sell the social network to Elon Musk.
Today we shall have data on consumer inflation for Britain and Canada. There will be no significant movements in the market until Powell's speech tomorrow.
Bitcoin went above $20,800- $21,200 for several hours yesterday, but did not gain a foothold, slowly falling to the $20,300- $20,500 area, where it found intermediate support. The most likely option for today is a trading range with a lower border at $19,500- $19,200 and an upper border at $21,500- $21,800. Altcoins are growing, some quite significantly. The Bitcoin Dominance Index is falling. It is somewhat reminiscent of January 2018, when alts also grew like this with a weak Bitcoin. Thoughts about whether to buy into altcoins? Perhaps only by DCA on projects you believe in for the long term.
An update of previous dates shared, 7th June saw BTC at -7%, followed by - 44%.
10th June Breakdown $29K support - 40% for BTC. 14th June was mixed between +/- 7% BTC hit 20K first time since Dec 2020
Incoming Dates 27th June, 3rd, 7th and 13th July Ps: These dates do not tell you to buy or sell, but technical analysis for patterns and trends.
That said, we were looking for a rebound to 25/28/30k from the $22/19K zone. If BTC closed below $19K Daily/weekly, in this case, we will see prices reaching $16 / $13 / $9K around 300 MA and lower about -85% from ATH at 69K. BTC closed below $19K and hit $175XX with the rebound to $19K. On the flip side, bulls need to reclaim $28/34 fast as this drop happens followed by a breakout for $47K and if this does not happen. This means the third quarter of the year will probably make bears lose some momentum and BTC will be between some rebound and slow movement before the last drop to $13k /$5K at the end of the year that extends to the first quarter of 2023. So we might see BTC ranging between $18k / 23 / 28K before going to $13K! Probably a fast dump will be better than a boring #recession.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin during the day was in the range of $20,380- $21,730 At the time of writing the review, Bitcoin is worth $20,379 Total crypto market capitalization of $898, billion, BTC, ETH dominance index of 43.3% and 14.7%, fear index 11
Stock markets were up yesterday. The Nasdaq rose 2.51%, the Dow Jones 2.15% and the S&P 500 gained 2.45% to close at 3764. The dollar index initially declined, but then turned to growth and is now above 104.3, while oil fell by more than 3%.
Yesterday's speech by Barkin from the Fed was with the same rhetoric - a recession is coming soon, but the rate still needs to be raised by 0.5-0.75% already in July. There was nothing new in this, and such rhetoric did not interfere with the growth of the market. In general, the indices were growing, but the likes of META, fell to the annual low. The shares of Twitter and TESLA rose on the news that the Board of Directors of Twitter approved the deal to sell the social network to Elon Musk.
Today we shall have data on consumer inflation for Britain and Canada. There will be no significant movements in the market until Powell's speech tomorrow.
Bitcoin went above $20,800- $21,200 for several hours yesterday, but did not gain a foothold, slowly falling to the $20,300- $20,500 area, where it found intermediate support. The most likely option for today is a trading range with a lower border at $19,500- $19,200 and an upper border at $21,500- $21,800. Altcoins are growing, some quite significantly. The Bitcoin Dominance Index is falling. It is somewhat reminiscent of January 2018, when alts also grew like this with a weak Bitcoin. Thoughts about whether to buy into altcoins? Perhaps only by DCA on projects you believe in for the long term.
An update of previous dates shared, 7th June saw BTC at -7%, followed by - 44%.
10th June Breakdown $29K support - 40% for BTC. 14th June was mixed between +/- 7% BTC hit 20K first time since Dec 2020
Incoming Dates 27th June, 3rd, 7th and 13th July Ps: These dates do not tell you to buy or sell, but technical analysis for patterns and trends.
That said, we were looking for a rebound to 25/28/30k from the $22/19K zone. If BTC closed below $19K Daily/weekly, in this case, we will see prices reaching $16 / $13 / $9K around 300 MA and lower about -85% from ATH at 69K. BTC closed below $19K and hit $175XX with the rebound to $19K. On the flip side, bulls need to reclaim $28/34 fast as this drop happens followed by a breakout for $47K and if this does not happen. This means the third quarter of the year will probably make bears lose some momentum and BTC will be between some rebound and slow movement before the last drop to $13k /$5K at the end of the year that extends to the first quarter of 2023. So we might see BTC ranging between $18k / 23 / 28K before going to $13K! Probably a fast dump will be better than a boring #recession.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 23. 06. 2022.
Yesterday Bitcoin still maintained the range of $19,766- $20,896 and at the time of writing the review, it’s worth $20,660. With a total crypto market capitalization of $915 billion, BTC, ETH dominance index 43.3% and 14.7% , fear index 11
Stock markets grew well yesterday, but by the end of the session they declined and ended up with a slight fall. Nasdaq and Dow Jones are down 0.15%, S&P 500 shed 0.13% to close at 3759. The dollar index moved up a few hours ago and is again above 104. Oil prices continued to fall, BRENT is already below 109. I think the reason is the fear of a recession in the United States, which Fed officials and experts are talking about a lot now, as well as the market's awareness of the fact that supply in the markets has not decreased, and in the future Russian oil is not going anywhere from the markets, Russia is selling record volumes to #India and #China.
Today, Powell will again talk about the outlook for the economy and the actions of the Fed, as well as data on the US labor market. Powell's speeches can cause any reaction in the market, and the labor market report now works on the principle of "the worse, the better." The worse the labor market - the more chances for curtailing the tightening of monetary policy - the better for the stock market.
Yesterday the S&P 500 failed to take 3800; if Powell and the labor market do not bring positive to the fund, the index is likely to move towards 3600.
Bitcoin remained within the range indicated yesterday during the day, while there were no movements above $20,900. The price drop below 20K was quickly redeemed and bitcoin did not go above $20,600; it seems that in the coming hours there will be movement towards the lower boundary of the range.
For today, expect a range with a lower limit at $19,500- $19,200 and an upper limit at $20,800- $21,200. The alts are doing well, the dominance index continues to drop.
Yesterday Bitcoin still maintained the range of $19,766- $20,896 and at the time of writing the review, it’s worth $20,660. With a total crypto market capitalization of $915 billion, BTC, ETH dominance index 43.3% and 14.7% , fear index 11
Stock markets grew well yesterday, but by the end of the session they declined and ended up with a slight fall. Nasdaq and Dow Jones are down 0.15%, S&P 500 shed 0.13% to close at 3759. The dollar index moved up a few hours ago and is again above 104. Oil prices continued to fall, BRENT is already below 109. I think the reason is the fear of a recession in the United States, which Fed officials and experts are talking about a lot now, as well as the market's awareness of the fact that supply in the markets has not decreased, and in the future Russian oil is not going anywhere from the markets, Russia is selling record volumes to #India and #China.
Today, Powell will again talk about the outlook for the economy and the actions of the Fed, as well as data on the US labor market. Powell's speeches can cause any reaction in the market, and the labor market report now works on the principle of "the worse, the better." The worse the labor market - the more chances for curtailing the tightening of monetary policy - the better for the stock market.
Yesterday the S&P 500 failed to take 3800; if Powell and the labor market do not bring positive to the fund, the index is likely to move towards 3600.
Bitcoin remained within the range indicated yesterday during the day, while there were no movements above $20,900. The price drop below 20K was quickly redeemed and bitcoin did not go above $20,600; it seems that in the coming hours there will be movement towards the lower boundary of the range.
For today, expect a range with a lower limit at $19,500- $19,200 and an upper limit at $20,800- $21,200. The alts are doing well, the dominance index continues to drop.
Some interesting news:
- Banks in Louisiana, a US state, can now provide crypto storage services to customers.
I don’t know what kind of sheep you have to be to buy a crypto and take it to the bank for safekeeping!. But I once read that one of the main reasons why people are afraid to buy crypto is a lack of understanding of how to store it. So it is useful and works for attracting a new audience.
- Perhaps soon there will be a FUD about the imminent seizure of control over Bitcoin through providers.
- The Chinese are also dispersing FUD - promises to drop Bitcoin to zero. In a publishing by the media outlet Economic Daily, run by the Central Committee of the ruling Chinese Communist Party, in an article yesterday, June 22, warning investors about the risk of Bitcoin prices “heading to zero,” after the carnage of the crypto market, South China Morning Post reported.
According to the article: “Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high. (…) In the future, once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless.” However it’s not 2017 now and the value of the Chinese crypto market has plummeted. Therefore, there will be no special effect.
Lastly - the Bank of England says that the projects that survive in the crypto market during the current difficult period will become dominant players.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
- Banks in Louisiana, a US state, can now provide crypto storage services to customers.
I don’t know what kind of sheep you have to be to buy a crypto and take it to the bank for safekeeping!. But I once read that one of the main reasons why people are afraid to buy crypto is a lack of understanding of how to store it. So it is useful and works for attracting a new audience.
- Perhaps soon there will be a FUD about the imminent seizure of control over Bitcoin through providers.
- The Chinese are also dispersing FUD - promises to drop Bitcoin to zero. In a publishing by the media outlet Economic Daily, run by the Central Committee of the ruling Chinese Communist Party, in an article yesterday, June 22, warning investors about the risk of Bitcoin prices “heading to zero,” after the carnage of the crypto market, South China Morning Post reported.
According to the article: “Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high. (…) In the future, once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless.” However it’s not 2017 now and the value of the Chinese crypto market has plummeted. Therefore, there will be no special effect.
Lastly - the Bank of England says that the projects that survive in the crypto market during the current difficult period will become dominant players.
As always, this is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research